Treace Medical Concepts (NASDAQ:TMCI) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Treace Medical Concepts (NASDAQ:TMCI) issued its quarterly earnings data on Thursday. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.02, Zacks reports. Treace Medical Concepts had a negative net margin of 23.01% and a negative return on equity of 46.76%. Treace Medical Concepts updated its FY 2025 guidance to EPS.

Treace Medical Concepts Stock Down 0.3%

Shares of Treace Medical Concepts stock traded down $0.02 during trading hours on Thursday, reaching $6.23. 569,049 shares of the company’s stock were exchanged, compared to its average volume of 228,582. The company has a 50 day moving average of $6.71 and a two-hundred day moving average of $6.43. Treace Medical Concepts has a fifty-two week low of $5.16 and a fifty-two week high of $10.79. The company has a current ratio of 3.52, a quick ratio of 2.51 and a debt-to-equity ratio of 0.55. The stock has a market cap of $393.55 million, a P/E ratio of -7.89 and a beta of 0.68.

Institutional Trading of Treace Medical Concepts

A number of large investors have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in Treace Medical Concepts by 18.6% in the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock valued at $88,000 after acquiring an additional 2,362 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Treace Medical Concepts by 328.3% in the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after acquiring an additional 3,674 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Treace Medical Concepts by 5.1% in the second quarter. BNP Paribas Financial Markets now owns 162,976 shares of the company’s stock valued at $958,000 after acquiring an additional 7,898 shares during the last quarter. Captrust Financial Advisors acquired a new stake in Treace Medical Concepts in the second quarter valued at $62,000. Finally, Brevan Howard Capital Management LP lifted its stake in Treace Medical Concepts by 28.9% in the second quarter. Brevan Howard Capital Management LP now owns 51,878 shares of the company’s stock valued at $305,000 after acquiring an additional 11,634 shares during the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

Wall Street Analysts Forecast Growth

TMCI has been the subject of several research reports. Stifel Nicolaus lowered their price objective on shares of Treace Medical Concepts from $9.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, August 8th. UBS Group reissued a “neutral” rating and set a $6.50 price objective (down previously from $8.60) on shares of Treace Medical Concepts in a research report on Friday, August 8th. Truist Financial lowered their price objective on shares of Treace Medical Concepts from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Wednesday, October 15th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.67.

Treace Medical Concepts Company Profile

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.